Thread regarding Charles Schwab Corp. layoffs

Clearly everyone upset at the favoritism missed the butt kissing clause in all job descriptions. Tiny and Says really like a good heinie smooch.

@1kyh+1vu0kVv5
Nailed it - management is clueless - My org is just sickening - the blatent favortism is the worst. I used to be happy, but with the way things have gone this last year, I want to leave and I'm readily looking... It's sad because I wanted to find a decent company to work for and remain at - not looking like it will be Schwab.

@clcx+1vu0kVv5 It’s almost as they don’t want remote workers to connect so they can justify working remotely is a failure.

I started with a new team and asked the leader when would be a good time to start 1:1’s with other team member. Then I was “asked” if this was a one-time thing :-(.
Sure, god forbid trying to build any type of working relationship with the team.

This post is spot on! It’s dreadful. The lack of senior leadership on most campuses plays a big part of why this has happened. It’s a free for all of directors who never should have been promoted due to experience and leadership skills. Most are way too young and definitely into cliques. There are directors reporting to directors and directors with 2-3 or maybe zero direct reports. Why doesn’t anyone take a look at that! How many so called directors do you need!!!???? Wasn’t that supposed to be dealt with last year!!!???

I agree with this article. When I started people spoke to you when you walk by. Now they act like they are on there phones or look the opposite way. It also seems to be more of a cliquish environment now. If you don't fit in, they won't let you in and you feel like a truly outsider. Unfortunately, this is the new norm especially since we are in a more decisive society. I just come in and do my job and go home to my family.

Great thread. Lots of facts being posted here. Please ignore the trolls and understand that there are people at Schwab feeling the same way you are. You are not alone. I have been at Schwab for many years and this is the most toxic environment I have seen.

They clearly were joking. No one thinks a discount brokerage run by McKinsey is an AI hardware company at the top of the market. Good grief.

They were right about anti-trust though.

@2tkn+1vu0kVv5

If already are Nvidia, most of us will have retired by now, based on how insane the stock has gone up multiple times over. Compared to SCHW, which just hit under $81, which sounds like a total joke.

What is Hadoop bops? I work with big data in DaRT, but none of us bops. We reduce, as in map reduce. I have a doubt. Please needy and explain.

I feel like we are the next Nvidia.... for brokerages.

We already are. Nvidia is being investigated for anti-trust. We will be investigated for anti-trust. The only goodness is that Chuck gave Trump millions. The badness is that we aren't that nice a company.

I feel like we are the next Nvidia.... for brokerages.

A really great computer scientist once said this, though she could have become a brain surgeon....

Total discombobulation. She bop, you bop, we bop, hadoop bops.

Montgomery Wards.

It feels like we are the next Sears.

Director here and I feel this too. Over 10 years at Schwab. The place has always had its quirks and problems, but the last 18 months have felt especially awful, and it's getting worse. Everyone that I am able to discuss this with candidly says the same thing.

The discussions on this site often degenerate into trolling and nonsense but there are a lot of eloquent comments in this thread. Schwab leadership, of course, hates this site (but are too clueless to know what it's called - they think it's "layoffs.com") but they would do well to come read these comments. But, as we all know, they aren't really soliciting real feedback. I've never worked anywhere that spent so much time hounding people with surveys or questions or comments, but I've also seen zero real action ever come of it.

Just drawing the paycheck for now.

I feel so discombobulated. It's like I got my head cut off after 3 years here. And sadly, I do not see this getting any better, even in the distant future. This is the trajectory we are on, and it only going further downhill from here.

I work in the cafeteria. I used to be so happy server food to hungry Schwabbies, who put in the good half day of work already. But now something has changed. Schwabbies are meaner. Gruffer. You can sense it in the air we breath. You can smell in the food we serve. Total discombobulation. She bop, you bop, we bop, hadoop bops.

I was one of the few who was happy about RTO because quite frankly I didn't have the setup at home to work remotely. But all this talk of collaboration is kinda silly. Teams are spread out all over the country. Nobody on my floor works on the same team. Not sure how you fix that but I can say for sure I don't know many who like working here these days. We used to have a clear vision of what this company stood for and what the goals were. All it seems like now is executives getting paid a lot of money and stock options while the rest of us struggle paycheck to paycheck

CEO to employee pay used to be 10:1. It's now 350:1

The truth is th EC is so disconnected from the average employee that nobody trusts them anymore

I joined schwab out of college 3 years ago and it was actually nice. People were so helpful and you could tell everyone was genuinely happy to help you. What I have seen this past year has been alarming. Some of the other interns that were hired the same time, we often have a teams call on Fridays to discuss all things career and schwab and everyone feels the same. That schwab is so completely discombobulated and nobody works together or is happy working here. Is this because of acquiring TDA or is schwab leadership really this out of touch with their employees?

I work at the NSD as a contractor and it's amazing to me how many people in my area hate working here. I came here as an FTE at Fidelity (I got laid off last year) and the difference is night and day in the culture. I probably talk to 35 schwab employees daily over the phone and people are burned out and not happy working here

Hate this for you guys because I had heard this was a great place to work

Someone on my team pointed me to this post on this site today. Crazy reading through this thread. We all feel the same on our team!

@trd+1vu0kVv5
Similar situation to mine. It was really difficult to leave my PTO, bonus and sabbaticals on the table. But that's how much I've disliked schwab and my "leaders".

Knowing those are sunk costs only makes me despise Schwab more, particularly that my bonus wasn't really earned by my hard work for the year, but a bribe to stick around through March of the following year. Schwab would have to double it to get me to sit through another inane review with my callous, useless manager who treated my thoughtfulness and caringness as quaint qualities.
Most lifeless, transactional job I have ever had (minus some wonderful people who deserve better).

and then you have a manager in another location who is totally worthle$$ and makes you spin your wheel$ instead of actually producing anything. All work could be done without them but they are there to fill a quota for Schwab in some forlorn category

I know most of my team mind of feel this way. We got reorged 4 times since the pandemic and each time it's gets more and more isolated for us. It su-ks because we were a good team once. We did a lot of good work and made a difference. At least in my eyes. Today I couldn't tell you what we do or what our objectives are. We're all so splintered.

It's turned into a lifeless paycheck.

I just put in my notice. My husband and I were talking about me staying on until bonus funding but I couldn't handle it anymore. I feel so much better. I'll get another job somewhere but this place just wasn't worth the stress. I was working unpaid overtime and could hardly sleep anymore. My manager stopped talking to us and his manager went MIA. This place lost it's soul

Just quit already. It's not worth the heartache folks.

Most people on my team are just so drained from being overworked and overwhelmed. Nobody cares anymore. We had an impacting event today with the app we support and Nobody joined the ITO call. They went to lunch and didn't worry about it until they got back. Sad to see this happen here.

My manager and I were talking about this today. She's on her way out and I'm just trying to get through the holidays and then I'm out too. I've only been here 4 years but this past 6 months has made me want to leave. There's no vision or commitment from management. Everyone just seems content to just get a paycheck and wait until something better comes along